Core Viewpoint - Shenglong Co., Ltd., a leading molybdenum company in China, has initiated its IPO process with plans to raise 1.53 billion yuan [1][5] Group 1: Company Overview - Shenglong Co., Ltd. focuses on the comprehensive development and utilization of non-ferrous metal mineral resources, primarily producing, processing, and selling molybdenum-related products such as molybdenum concentrate and ferromolybdenum [3] - The company is expected to hold over 9% of China's molybdenum metal reserves and production by the end of 2024, with a projected production of 10,600 tons of molybdenum, making it a significant supplier in the domestic market [3][4] - Shenglong's mining assets include the Nanni Lake Molybdenum Mine, the largest operating molybdenum mine in China, with a production capacity of 16.5 million tons per year [3][4] Group 2: Resource and Market Position - As of the end of 2024, Shenglong holds 710,500 tons of molybdenum metal, accounting for approximately 9.1% of the national molybdenum resource reserves, indicating substantial resource potential [4] - The company has established strong customer relationships with major players in the steel industry, including China Baowu Steel, Shandong Steel, and Hualing Steel [4] - Shenglong is strategically located in Luoyang, Henan Province, known as "China's Molybdenum Capital," which enhances its competitive advantage in the molybdenum market [4] Group 3: Financial Performance - Shenglong's revenue has shown growth from 1.911 billion yuan in 2022 to an expected 2.864 billion yuan in 2024, with net profits increasing from 344 million yuan to 757 million yuan during the same period [4] Group 4: IPO and Fund Utilization - The IPO aims to raise 1.53 billion yuan to fund the mining project at the Songxian Angou Molybdenum Polymetallic Mine, establish a mining technology research center, and supplement working capital and repay bank loans [5]
盛龙股份深主板IPO获受理 支撑国内钢铁行业高端化转型
Zheng Quan Shi Bao Wang·2025-05-22 08:17